Where does housing flipping have the biggest payoff? Try Mt. Washington and Highland Park

The average Mt. Washington home flip grossed $236,300 in 2013

Investors who bought and resold homes in Mt. Washington and Highland Park reaped some of the largest gains last year in a ranking of the nation’s hottest neighborhoods for flippers. The  analysis of 2013 sales by Redfin, the nationwide brokerage firm, said that the average price gain of a flip in Mt. Washington (and a chunk of Glassell Park) was $236,300, which earned it the No. 5 rank on the nationwide list. Meanwhile, Highland Park ended up in No. 12 spot, with an average gain of $191,400 (these are price gains, not profits).

The two Northeast L.A. neighborhoods trailed Mid City – ranked No. 4 with an average gain of $239,900, according to Redfin. The nation’s hottest neighborhood for flippers was Petworth in Washington, D.C., where the average gain from a flip was $312,400. Said the report:

While 2013 proved lucrative for flippers, flipping activity (number of homes flipped) generally decreased across most of the major U.S. markets. L.A., however, appears to be stable with about 8,500 flips each year from 2010 – 2013.

The Redfin results may not surprise the house hunters who have been out bid  by all-cash offers made by flippers and other investors.

Mount Washington
Average Gain: $236,300
Pre-Flip Price $342,000
Post-Flip Price $578,200

Highland Park
Average Gain: $191,400
Pre-Flip Price: $310,600
Post-Flip Price: $502,000


  1. House Flipping is a great investment….IF you have the money to invest!

    • and you don’t give a rats asp about the area you are flipping in, or the long term effects for the new owners and the neighborhood!

  2. Taking houses and fixing them up to sell them at a tidy profit is nice – but the level of unchecked speculation that is destroying affordability in this community needs to be reigned in. The wealth leaving this community, via cash payouts for increases in real estate value, in private hands should be taxed and reinvested in our streets, street lighting, school programs, sewer system repairs, community policing, and cultural programming.

    If people can flip a property multiple times, and we’re left with a community of “investment opportunities” then clearly something is way, way, off here. Cities are essentially land trusts and citizens are shareholders of that trust. If a few shareholders are getting massive payouts and leaving our trust no better than it was before their payout, we need to re-evaluate the situation. That is money that should be going to fund welfare programs, etc. that lock in the intrinsic value of our communities without economically kicking out the poor.

    • You do realize that ever time a house gets flipped for a huge increase in value the tax base also drastically increases due to reassessment and that increased tax base goes to fund government activites, right?

    • Ubrayj02 you hit the nail on the head, nice post!

  3. WoW, we are supporting this? we are supporting removing affordable housing from an area to artificially raise it’s value? has every one forgot the lessons from the housing bubble burst? we need a law then when you buy a house you must hold on to it for one year (excluding death or bankruptcy). These house flippers come into a community radically change it (often for the worse threw style that does not fit) and then sell the house to people who are no longer paying true market value, and now they have a house that might never be truly worth what they paid for it. then again who need ethics when you can make a profit right?

  4. I guess I just don’t understand the mindset that doesn’t want neighborhoods to improve house by house. It makes for nicer neighborhoods, increases property values for all homeowners, and as was pointed out above it increases the tax base.

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